Good Summary of Financial Considerations for New Retirees

What happens financially in the first 3 years after retirement is a great article for people about to retire.  Some key points:

• Your spending patterns shift more than you expect
• The sequence of returns risk becomes your new reality
• Medicare becomes a major budget item faster than expected
• Social security claiming decisions have permanent consequences
• Emergency savings dry up surprisingly fast
• Many retirees face an earlier than expected exit from work
• Retirement well being has declined in recent years

A good read for preparing for potential risks during one's retirement.

For more on Reaping the Rewards , check back every  Friday for a new segment.

This is not financial nor retirement advice. Please consult a professional advisor.

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